An appellate court in Germany has defined the value of IPCom's patents in suit in its dispute with HTC: “‘[economic] interest’ in the enforcement of its rights, which in this case is based on the ‘expected license fees.’" IPCom has argued that for the telecommunications industry, a 2.5%-3.5% royalty rate is reasonable. European analysts think the rate is high, but research in ktMINE for the telecommunications industry in Europe suggests higher royalties.